More than a cultural phenomenon and an entertainment platform, the sports industry is a huge business. And just like any other business, it is rapidly evolving. Here some interesting trends in the industry, as listed by SA Promo Magazine, that may be changing it forever:

With top sports stars like F.C. Barcelona’s Lionel Messi worth in excess of $50 million, the global sports industry equals big business. Clearly, the landscape of the industry in 2017 is vastly different compared to ten or even five years ago. As we enter the final business quarter of the year, it’s a good time to look back at the some of the key business trends that have shaped the sports industry.

During 2017, the focus of sports clubs and teams began to shift to creating high-quality and engaging fan experiences that don’t end at the stadium or sports ground. The mass commercialization of popular sports is starting to influence the way brands design and develop their products, and the advent of the digital age has created a new category of professional sports.

Innovation has been high on the agenda for sports teams and organizations so far during 2017. For example, the NBA team the Philadelphia 76ers’ has dedicated an 8,000 square-feet “innovation hub”, which opened its doors in July. Its aim is to provide support, consulting and investment opportunities to “start-ups with potential”. The Sixers Innovation Lab is situated in the team’s state-of-the-art training complex and business operations facility, and so far, has housed four diverse companies in the hub operating in eSports, pet care, digital cause media and daily fantasy sports. In addition to office and production space and operational support, companies housed by the lab are also able to receive free meals and housing in the Philadelphia area as well as legal services, marketing support and third-party branding.

Another side of innovation has been of benefit to the 76ers’ fellow NBA team the Sacramento Kings. The sports team’s new home, the Golden 1 Center, has been dubbed the U.S.’s first “smart arena”. This $558 million sports and entertainment venue officially opened last September and has already played host to many notable sporting events including the UFC on Fox 22’s fight night headlined by a women’s strawweight MMA bout between Paige VanZant and Michelle Waterson in December 2016, the WWE No Mercy event last October and the Sacramento Kings’ pre-season and regular games during the 2016/17 season.

A full entertainment and sporting complex, its use of innovation shows in both its design and facilities. The 44 x 24 feet court video screens and the 6,100 square-feet main videoboard all broadcast in 4K Ultra HD and free Wi-Fi connections available throughout the arena claim to be in excess of 15,000 times faster than the average home broadband network. According to the construction and development team, the bandwidth capabilities of the network available in the arena and the surrounding plaza extend to the equivalent of posting over 225,000 Instagram photos per second.

A relatively new player in the sports business game is on the brink of becoming a billion-dollar industry. eSports has experienced exponential growth in recent years and is set to become even more popular following the recent announcement that it will become a medal event at the 2022 Asian Games. Seen by some as competitive video gaming, eSports is expected to generate almost $700 million in revenue before the end of the year. Its total audience reach is estimated to be 385 million and market researchers forecast a reach of 589 million within the next three years.

Global sports teams are also beginning to invest in eSports and more interactive ways to connect and engage fans. Four Australian Football League teams including Essendon and Carlton are considering investing in professional eGamers after the successful acquisition of Legacy eSports by Adelaide Football Club. Many club officials in the region view eSports as a natural extension to their teams, opening a new fan base in a demographic that typically engages in online video gaming and content streaming. The AFL clubs expressed an interest in harnessing the potential of eSports to generate content, suggesting the creation of a dedicated eSports studio that will enable the creation and broadcast of games across the genre. The target audience for online gaming includes Millennials and older online and mobile aficionados; meaning that there is huge potential for expansion in the market.

Moving forward into 2018, we can expect to see technology and innovation still dominating trends in the sports industry. We’re already witnessing the transformation of sporting arenas into high-tech entertainment monoliths, and sports media is expected to undergo a similar evolution. On the fields and elsewhere professional women’s teams are beginning to surge in popularity in mainstream culture, particularly since sports organizations are looking for new ways to optimize the experience of fans while increasing their existing audience base.

Technology has been an essential part of our everyday life, from helping us with simple tasks to accomplishing complicated projects. In fact, the practicality and efficiency of using this modern wonder have been transforming different industries for years–and the world of professional sports is no exception. Let’s take a look at the latest and most innovative technological advancements that are revolutionizing the sports industry today.

Virtual Reality (VR) in sports training

Image source: Sports Illustrated

Many famous NFL and NCAA players were trained with the help of virtual reality (VR) and we see U.S. teams like Dallas Cowboys, Minnesota Vikings and others have partnered the VR-based training method with their usual drills to prepare for most of their major games.

With VR, players can have the chance to reassess their performance from watching themselves in pre-recorded drills, analyzing better plays and improving footwork and movement.

3D-Printing in professional sports products

Image source: theluxonomist.es

Just like how it conquered other industries, 3D-printing is making its name in the world of sports through high-quality and professional-grade products and equipment.

Its recent popularity in the industry can be credited to the technology’s capabilities that allow full customization, cost efficiency and freedom for creativity – since its innovative nature can produce a list of new and much-needed revolutionary sports products that have not existed before.

Geographic Information Systems (GIS) for sports management

Image source: esri.com

Used in the business of sports, GIS technology can take care of management and security in large sporting events like the Olympics and World Cup. This is because, as an advanced software, it can track patterns, movements and even identify characteristics of participants in specified geographic locations.

GIS can also be used to analyze winning shots, provide play-related statistics that can improve players’ performance later on. For instance, the same technology was used to identify patterns during tennis’ London Gold Medal match between two sports superstar, Roger Federer and Andy Murray.

Potentially catastrophic natural events, such as Hurricane Irma, are always a major threat to properties, including cars. And when it comes to ultra-expensive luxury automobiles, finding the safest parking shelter can really be a major challenge. Read more on the Sun Sentinel:

As millions of South Floridians prepare for the arrival of Hurricane Irma, shelter for their cars is a key item on the check list.

Insurance companies suggest parking vehicles close to buildings for protection against high winds, and to avoid parking under trees.

But where does one park a $15 million Pagani Zonda, or a $5 million Ferrari? One option: The 60-floor Porsche Design Tower in Sunny Isles Beach.

Prestige Imports, a luxury car dealership in North Miami Beach, will be safeguarding 10 of its most valuable vehicles in Porsche Design Tower’s unused units, in addition to an unsold penthouse located on the 56th floor with the ability to store up to 11 vehicles.

The tower was built to withstand Category 5 hurricanes and has the advantage of its unique ability to lift cars from ground level, said Porsche Design Tower developer Gil Dezer.

Cars were brought to the penthouse via the “Dezervator.” (Courtesy/Porsche Design Tower)

A first-of-its-kind auto elevator lift system, dubbed the “Dezervator” and named after Dezer himself, is a high-tech hydraulic elevator that smoothly transports owner’s cars to private sky garages adjacent to their condo units.

The tower contains three such lifts. The system has received worldwide publicity, having been prominently featured on financial news networks and TV programs touting the lifestyles of the wealthy.

To ensure that there is no flooding, Dezer brought in additional drainage pumps and employed a team to work 24 hours a day. The group is dedicated to keeping the Dezervator’s pit dry.

The unsold penthouse unit, currently on the market for $32.5 million, is identical to another penthouse in the tower that sold for $25 million on March 31 – just two weeks after the building’s official opening.

Trying to imagine what this amazing penthouse looks like? Catch an exclusive glipse with these renderings provided by Dezer Development.

Both feature a garage designed to be used as a car gallery that can accommodate up to seven vehicles. In addition, there are two separate two-car sky garages in each of the penthouse units.

With only 10 full-time residents currently living in the recently-opened 132-unit tower, Prestige Imports is not the only one taking advantage of Porsche Design Tower’s elevated storage, Dezer said.

An additional 60 cars, and counting, have been delivered by unit owners to be protected during the storm. Over 90 percent of these vehicles belong to residents whose units are currently under construction. Unit owners of the building with more than two cars are also asking tower management to put their extra cars in the few remaining unsold units.

Just like any other celebrity, professional athletes equally share the ups and downs of fame and fortune. Success has let them achieve their wildest dreams, doing the things that they love while amassing wealth and inspiring millions of fans around the world.

However, accomplished athletes also face the everyday challenges of managing and maintaining their wealth. Unlike other celebrities like Hollywood superstars or self-made millionaires, their income peaks at a very young age and can dramatically and unpredictably drop depending on some unforeseen circumstances.

Most of the time, professional athletes are amateur wealth managers and their financial literacy can fall ‘below average,’ making them vulnerable to risky investments and unwise decisions, among others. However, there are some who have successfully found the ultimate solution to both maintain and grow their wealth by focusing on one important goal: building multiple streams of income. In other words, as professional and high-earning athletes, they make more money not just from one but many sources.

Image source: moneyinc.com

For instance, most individuals who have enough financial resources earn more by diversifying their income through investing, especially with trusted investment companies such as LOM Financial. In contrary to what other people think, investing is not just about setting money aside for a rainy day but it’s more about using a substantial capital to generate an equally significant income over time.

Another income stream that professional athletes can look at is in real estate – by diversifying one’s investment portfolio by acquiring properties that can provide long-term, and tax-free, financial benefit. In fact, several sports superstars including Andre Agassi, Alex Rodriguez and Shaquille O’Neal have found a home in the real estate industry.

Finally, most athletes don’t really enjoy the technicalities of financial management but do love to earn more by doing something that they enjoy. One stream of income is starting a small business, whether online or offline. Some may call it, “hobby business” and it’s for a reason. Usually, this stream of income is related to the athletes’ interests and hobbies.

Sports as a whole is a multi-billion-dollar business and in the world of association football (soccer), pricy player transfers are among its many highlights. The most expensive players include superstars Cristiano Ronaldo, Gareth Bale, and Paul Pogba. Total Sportek has the full list:

Paul Pogba to Manchester United is the most expensive transfer in the history of football valued at £89 million which broke the previous record of Gareth Bale’s transfer to Real Madrid which took place back in 2013. Below is the breakdown of top 30 most expensive transfers of all times.

Top 20 Most Expensive Transfers of All Times

If we take a deeper look into the 20 most expensive tranfer you can see that Real Madrid dominates the list with 7 entries in the top 20 list of transfers while all current top 10 tranfers happened since 2009 and out of top 20 most expensive player transfers only 6 happened before year 2009. Which goes to show that top clubs like Real Madrid, Barcelona, Manchester United, Man City and Chelsea are not afraid to spend big to lure top players.

Update: Manchester United has resigned Paul Pogba from Juventus for a world-record fee of £89 million(€105m) which makes this transfer the most expensive ahead of Gareth Bale and Ronaldo’s Real Madrid moves. Manchester United agreed to pay €105 million plus add on bonuses to Juventus if certain terms are meet in future.

Below is the list of top 25 most expensive transfers of all times. We have used the official transfer fees quoted in GBP.

The biggest clubs in football keep splashing the cash and bring in worlds best players to their club to keep themselves at the very top of football elites. Real Madrid seem to spend big on that one big player every year which is tauted to be the next big thing, they already broke their own record several times when they spend world record fee for a player transfer and Real Madrid’s several transfers feature in the top 20 most expensive player transfers in the history of football.

So today we take a look at the 20 players who cost most money in transfer fee and the average transfer fee for a top player has increased dramatically in the last few years which is pretty evident in the top 10 list of highest transfer fee ever paid by clubs.

If your idea of fun and YOLO-ing includes some exciting water activities, then you’re probably one of the millions of thrill seekers who have recently discovered the awesomeness of living life to the fullest by engaging in the worldwide craze on watersports. However, while the likes of surfing, scuba diving, and snorkeling have long been popularized by enthusiasts, more and more options have started to emerge in recent years. They may be set in the calm and peaceful natural bodies of water or in the most challenging water-terrain combinations out there.

Image source: marina-hramina.com

Stand-up paddleboarding for instance is one of the newest water events that everyone is talking about—especially because of its semi-unique features that is interestingly confusing: a clever combination of canoeing and surfing. In a stand-up paddle, athletes should stand on a long board while using a paddle to propel and control its movement. This activity can be done either on flat water or in the waves.

Image source: divessi.com

Ever heard of ‘freediving?’ From the name itself, you’ll get the idea how this surreal and somehow ‘expert-level’ sports works. It’s actually more like scuba diving, but without your scuba gear, the oxygen tanks, or any kind of breathing apparatus. In other words, the ‘freedom’ from the heavy life-saving gears in diving relies on your ability to hold your breath underwater, diving several meters deep.

Image source: newquaywatersportscentre.co.uk

Another underrated watersports that has been recently making headlines is ‘coasteering,’ considered as the art of sea-level traversing. The truth is, this sport has been informally practiced in some European countries with rugged coastline and mountainous terrains like Wales. However, it was only in the 19th century when it became a commercially guided recreational activity. Basically, it’s an activity that requires athletes to move along the intertidal zone of rocky coastlines whether by swimming or on foot—without the help of boards and other water crafts.

Image source: cupexperience.com

In the more luxurious side of water sports, catamaran racing is an old but still growing competition. Designed for the wealthy, it showcases the latest in technological and design innovations in yachting. At the recent America’s Cup in Bermuda, a major offshore financial center, the world’s most expensive yachts broke many performance records and set the bar higher for the next installment of the race.

With devoted fan bases, many soccer (association football) clubs around the world are capable of generating massive profits from TV deals, sponsorship, ticket sales, merchandises, and many other streams of income. It is therefore no wonder that some of the world’s billionaires invest heavily in them. Here are the world’s most valuable teams according to Forbes:

Ashley Young, Eric Bailly, Daley Blind and Chris Smalling of Manchester United take selfies with the trophy after the UEFA Europa League Final between Ajax and Manchester United at Friends Arena on May 24 in Stockholm, Sweden. (Photo by Alex Grimm/Getty Images)

No soccer team has done as good a job as Manchester United at turning a storied history of success on the pitch into profits.

The Red Devils have won a record 13 titles in the Premier League since the top flight of English soccer was given that name in 1992. During that time Manchester United has also made it to four Champions League finals, winning in 1999 and 2008.

And now for the first time in five years, Manchester United is the world’s most valuable soccer team, worth $3.69 billion. The team’s return to the top spot is a testament to their powerful brand and marketing acumen. Manchester United generated revenue of $765 million during the 2015-16 season, $77 million more than both Barcelona and Real Madrid.

Manchester United brought in $405 million in advertising and sponsorship revenue, more than any other soccer team. And the Red Devils are also by far the most profitable soccer team in the world, posting operating income of $288 million, $107 million more than runner-up Real Madrid. It will not be easy to overtake the Red Devils in the near future: By winning the Europa League this year, Manchester United qualified for the lucrative 2017-18 Champions League.

The world’s most valuable soccer teams are big businesses because of the popularity of their brands and the sport’s unparalleled global audience. The 20 most valuable soccer teams this year are worth an average of $1.48 billion, 3% more than a year ago. Following Manchester United in value are Barcelona ($3.64 billion), Real Madrid ($3.58 billion), Bayern Munich ($2.71 billion) and Manchester City ($2.08 billion).

All revenues and operating income figures in our table are for the 2015-16 season, converted into U.S. dollars based on average exchange rates for the same period. Team values are enterprise values (equity plus net debt) and are based on exchange rates as of April 24. Operating income is earnings before interest, taxes, depreciation and amortization, player trading and disposal of player registrations. Debt includes stadium debt recourse to the team. Most revenue figures are from Deloitte’s Money League report.

The U.S. dollar rose in value relative to the euro during the past year. As a result, while not a single team declined in value year-over-year when measured in euros, nine of the 20 teams decreased in value when priced in U.S. dollars. Measured in euros, the average team value went up 7% during the past year, to 1.37 billion euros.

England dominates our list with seven teams due to the Premier League having the biggest domestic and international television deals. Big thanks to my colleague, Bobby McMahon, for putting together the table below (term represents the end of season for deals). One-fourth of the distribution of the Premier League’s television money is based on pitch performance.

Most of us love sports and we take pride in the fact that win or lose, we’re loyal fans to our beloved teams. In fact, we sometimes take that once in a lifetime chance to turn off the TV and actually go and see our teams in person – no matter how expensive it is.

Just like ordinary people, the super-wealthy elites also like going to their favorite sporting events and even religiously following their teams wherever the games take them. With all the money in the world, they do this in a rather larger, more luxurious scale. Let’s take a look at some of the most luxurious sports events loved by the super-rich:

AMERICA’S CUP

This year’s America’s Cup is currently being hosted by the majestic subtropical archipelago in the Atlantic Ocean, Bermuda. This billion-dollar sport is a race among state-of-the-art catamarans that depend on high technology and superior human expertise to achieve insane speeds—and win the top trophy from what is known to be the world’s oldest and most prestigious sailing competition. Four-time Olympic champion Sir Ben Ainslie has even considered America’s Cup to be the ‘Formula One racing on water.’

MONACO GRAND PRIX

The uber-wealthy loves their speed and it shows in their presence in the yearly Monaco Grand Prix. This Formula One racing event has been around since 1929 and is known for its infamously narrow course and dangerous elevations. Even for those elites who don’t love racing, the picturesque scenes in Monaco alone can attract any person in the world to this unforgettable event.

DUBAI CUP

The Dubai World Cup may not be the gold standard in the tradition of in Thoroughbred horse racing but their lavish and luxurious take on this competition attracts the mega-wealthy. The keyword is “gold”, and this expensive racing event

On the map, Bermuda is just a tiny dot in the middle of the northern Atlantic Ocean. However, this British Overseas Territory is more than just a piece of volcanic island. It is home to gorgeous pink-sand beaches, the headquarters of world-class offshore financial services companies, and currently the host of the 35th America’s Cup. Read Daily Mirror’s article below to know more about this stunning island:

Bermuda has plenty to offer (Photo: Getty)

Bermuda is two hours from New York and Miami, but proud of its status as a British Overseas Territory.

Discovered by the Spaniard Juan de Bermudez, it was taken over by Britain in the early 1700s.

It is often considered a Caribbean island and much of the population trace their ancestry back to the region, but it is situated more than 1,000 miles away.

Known for its pink sandy beaches, the temperature rarely drops below the mid-60s Fahrenheit (high teens Celsius), and never rises much above the mid-80s (early 30s Celsius).

Here’s how to make the most of it…

1. Watch the America’s Cup

Sir Ben Ainslie and his BAR team preparing in Bermuda for the America’s Cup (Photo: PA)

Named after America, the yacht that shocked Queen Victoria in 1851 by beating its confident British rival in a race around the Isle of Wight, the contest has never been won by Britain.

Olympic legend Sir Ben Ainslie aims to put that right, although first he must see off competition from Sweden, France, Japan and New Zealand in qualifying races for the right to race defending champions the US.

The catamarans rise up on foils and will speed along at over 50mph. Racing will take place in the Great Sound, as close as you can get to a natural amphitheatre for sailing, with spectators able to watch the America’s Cup not only from the water but all around the shore too.

There are plenty to choose from. Bermuda is made up of 181 islands formed by volcanoes in the middle of the Atlantic. Shaped like a fish hook, the main island is less than 21 square miles but has more than 60 miles of coastline.

Famed for its pink sand, there are more than enough golden beaches to go around too.

3. Play golf

It is said Mike Allen’s swing is a crime against golf, so there to investigate it at Port Royal Golf Club were two of Britain’s most loved TV detectives DCI Gene Hunt (Phil Glenister, left) and Inspector Robbie Lewis (Kevin Whately, right)

With a population of just 60,000, Bermuda has six world class golf courses, each with breathtaking views. Among them is the fabulous Par 3 Turtle Hill course, attached to the Fairmont Southampton Hotel, which hosts the World Championship. Then there is Mid Ocean, one of the top 50 courses outside the US, according to Golf Digest, and simply stunning.

And try Port Royal , regarded as one of the best public courses in the world and a regular venue for the Grand Slam of Golf, with its spectacular Par 3 16th.

Next month, the 35th edition of the America’s Cup yacht race will officially commence. It will be held in Hamilton, Bermuda, a British Overseas Territory in Northern Atlantic and a major offshore financial center. For decades, the event has been touted as an ultra-expensive sport experience both to compete in and to be a spectator of. Participants spend millions on yachts and professionals teams; that means only a few challengers can afford to compete in each edition.

The 166-year-old contest is apparently putting things a notch higher by using hydrofoiling America’s Cup Class yachts for the 2017 edition, which are arguably the most advanced type of yacht in the world right now. More than the sleek design, the yachts were created to maximize aerodynamics, increasing their speed and performing powerfully even in rough waters. By reducing drag and engaging power, the hydrofoils are able to lift the hull out of the water and help it literally fly through the air. It is a technological feat in the world of sailing that has never been achieved before.

Revenues associated with the America’s Cup are massive. In the 1986-87 edition, for example, host Western Australia reportedly enjoyed more than $1 billion in overall economic gains. The quaint port city of Fremantle gained global attention and has easily become the region’s leisure hub since the event. The event is capable of generating thousands of associated jobs, millions in taxes, lucrative licensing deals with various media platforms, and hundreds of thousands of visitors.

What makes America’s Cup more than just a sailing event is its technological pedigree only a few other events could match. It is a magnet of magnates; a sport extravagance that is both a showcase of man’s innovative capabilities and an homage to its historic roots. To keep the event spectacular, Bermuda is spending $77 million as host. This includes a $15 million sponsorship fee, $25 million on infrastructure improvements and new facilities, and $12 million in event operating costs. The territory has also underwritten a $25-million guarantee against commercial sponsorship.

Current title holders are the Oracle Team USA and will be challenged by whoever would win the 2017 Louis Vuitton Cup. The event has been preceded by the 2015–16 America’s Cup World Series.